Snap Shares Slump Further
Snap is hoping for a turnaround in its fortunes this week after its shares fell more than 14 percent to a record low on Friday.
The downturn came after the messaging app Snapchat’s daily active user growth missed expectations for the second quarter in a row.
Snapchat’s Q2 daily active users rose 21 percent to 173 million from a year earlier, but was short of the 175.2 million expected by analysts. n comparison, Snapchat’s main rival Instagram Stories had more than 250 million users as at the start of August.